The convergence in ROC (a sign of accumulation on the low) caught my eye as SWHC was near it's 50% retracement off the 2011 low. I love bounces off the 38.2% and 50% fib as they quite often translate into a reversal to challenge (and at times exceed) the prior highs. Today's volume convinced me to get long this channel break. Only 1/3 size but I will back up the truck on any test of lower support in the weeks to come with a 10% stop. This name is deeply oversold (monthly and weekly) which translates into a multi-month long swing. Two gaps above to be filled. Take partials and let the balance run.
You need to be a member of StockBuz to add comments!
You can't use this site and its products or services without agreeing to the terms and conditions and privacy policy.
Pardon our dust as this page is undergoing a facelift. Please report any difficulties you may experience during this phase. Contact us
You're welcome to add new charts and photos using the "Add" button found at the top/right.
- Be certain to give each a TITLE
- Select a category that best fits
- Select more than one category by holding down the "CTRL" key when selecting the second or third category.
- Add "tags" which best describe your chart so it can be located by search engines. (ex. Apple stock, AAPL, long trade)
- Since we don't charge for our trade ideas, please pay with a Tweet
Comments